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A comment on Asking rents in San Francisco continue to slip, but…. Parent comment

Re:Asking rents in San Francisco continue to slip, but… by positr0n on Tuesday April 27, 2021 @12:03AM (#26951871)
Based on the spelling of favour I am assuming you are not from the US. In the US, fixed rate mortgages for between 15-30 years are very much the norm, with 30 year mortgages much more common than 15. You can absolutely get a 30 year loan up to $550k ($820k in California) for well under 3% these days.

A 5/1 ARM that changes rates after 5 years is a product you can buy, but it would only be used in niche scenarios.

I understand it is not like that in most other countries and I'm not 100% sure why. Something to do with the federal government backstopping most mortgages I think.

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Re:Asking rents in San Francisco continue to slip, but… by ska on Tuesday April 27, 2021 @01:31AM (#26952384)
Fair - I bounce around a fair bit and haven’t looked in the US for about 10 years, mea culpa.

Just goes to show you have to do the non hand wavy version of this for your actual situation ; my broader point stands though.

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